The FHFA released a final rule that governs a new process by which the GSEs must review credit score models (e.g. FICO). The final rule aligns with many of the recommendations NAR raised in its letter to the FHFA on the topic.

The Financial Crimes Enforcement Network (FinCEN), a bureau within the Department of Treasury, hosted an inaugural meeting with real estate industry leaders at its office in Vienna, Virginia to discuss the impact of money laundering in real estate, the Geographic Targeting Orders (GTOs), and business email compromise scams (wire fraud).

NAR sent a letter of support for the SAFE Banking Act to the Committee. The cannabis industry is especially tied to real estate – it requires land, warehouses, storefronts, etc., and many REALTORS® have clients that are in some way connected to it.

The Department of Homeland Security (DHS) issued a Final Rule to reform and modernize the EB-5 program increasing the required minimum investment amounts and reforms targeted employment area (TEA) designations.